Image Source: UnsplashBeginning 2024 several airline stocks look attractive with a few holding spots on the Zacks Rank #1 (Strong Buy) list. On Wednesday the U.S. Department of Transportation stated travel around Christmas and New Year’s was notably smooth with the cancellation rate at just 0.8% despite a record number of passengers flying during the busy holiday season.In comparison, the cancellation rate during the same period at the end of 2022 was at a screeching 8.2%. Better still, there were 16.3 million domestic flights last year with a cancellation rate below 1.2% which was the lowest rate in a decade.  With that being said, here are three highly-ranked airline stocks that look poised to move higher in 2024 as momentum for the broader travel industry gains steam.Image Source: U.S. Department of TransportationSkyWest (SKYW): Sporting a Zacks Rank #1 (Strong Buy) SkyWest Airlines is a regional operator to keep an eye on with the company offering flights primarily in the Midwestern and Western United States as well as Mexico and Canada.SkyWest’s post-pandemic rebound is expected to be in full swing this year. Rounding out fiscal 2023 SkyWest’s earnings are forecasted at $0.50 a share but FY24 EPS is expected to rebound and skyrocket 912% to $5.06 per share. With SkyWest’s stock trading around $50, the lofty FY24 EPS projections would put the company at a very reasonable 10.2X forward earnings multiple. Offering further support is that earnings estimate revisions have soared over the last quarter.Image Source: Zacks Investment ResearchAmerican Airlines (AAL): As not only the largest domestic airliner but also the largest airline in the world, American Airlines stock continues to look undervalued at $12 and just 5.5X forward earnings. Sporting a Zacks Rank #2 (Buy), American Airlines’ cheap P/E valuation justifies its stock moving higher despite FY24 earnings being forecasted to dip -19% to $1.93 a share as the company is expected to round out FY23 with EPS at $2.41 per share. Still, earnings estimates are slightly higher over the last 30 days for both FY23 and FY24. Optimistically, total sales are now projected to be up 8% in FY23 and rise another 4% in FY24 to $55.21 billion. This alludes to the notion that American Airlines’ earnings potential will be more promising as operating costs simmer down.Image Source: Zacks Investment ResearchRyanair (RYAAY): Among foreign airliners, Ryanair is very attractive as a low-fare carrier offering scheduled-passenger airline services in Ireland, and other parts of Europe including the U.K. and Israel along with Morocco. The trend of positive earnings estimate revisions is very compelling for Ryanair’s stock which boasts a Zacks Rank #1 (Strong Buy).Ryanair is emerging as a post-pandemic winner among airline carriers as earnings are expected to soar 25% in FY24 and climb another 16% in FY25 to $10.62 per share. More astonishing, FY25 EPS projections would represent 106% growth since the pandemic with earnings at $5.14 a share in 2019. Ryanair has also seen expansive top-line growth as well with total sales anticipated to climb 27% in FY24 to $14.16 billion compared to $11.16 billion in 2023. Plus, FY25 sales are projected to rise another 9%.Image Source: Zacks Investment ResearchBottom LineLower cancellations are a further testament that airline travel has continued to strengthen in the U.S. and SkyWest and American Airlines looked poised to benefit while Ryanair has created quite the niche among foreign airliners. It would be no surprise if these airline stocks moved much higher in 2024 making now an ideal time to invest. More By This Author:3 Healthcare Mutual Funds For Remarkable Returns Time To Buy Lennar Corporation’s Stock After Strong Q4 Results In December?Time To Buy Stock In These Steel Producers